This form is used when a question exists as to the location of the common boundary line between the Owners' lands. To resolve this question and permanently establish the common boundary line between First and Second Owners' lands, First and Second Owner enter into this Boundary Line Agreement.
Minnesota Boundary Line Agreement Between Adjacent Land Owners
State:
Multi-State
Control #:
US-OG-652
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Our property lines connecting to the shoreline are parallel. The well-settled law in Minnesota is that, "The riparian owner's title extends to the low-water mark." State v. Slotness, 289 Minn.
There is no foreclosure process with the Contract for Deed. Instead, if a buyer defaults on the contract (fails to pay), the seller of property uses a Notice of Cancellation of Contract for Deed. The ?Notice? can be served upon the buyer as soon as the buyer misses a payment.
Under Minnesota law, a person seeking to prove up a claim of Adverse Possession of another's property must show he or she had actual, open, hostile, continuous, and exclusive possession of the land in question for at least 15 years.
In order to claim title under Minnesota's adverse possession law ("Recovery of Real Estate"), you must be in possession of the property for 15 years and pay taxes for at least five consecutive years. The statute excludes certain boundary line disputes (see FindLaw's Property Boundaries section to learn more).
The seller can begin an eviction action against you in just a few months. (6) Within four months of signing the contract for deed, you must "record" it in the office of the county recorder or registrar of titles in the county in which the property is located. If you do not do so, you could face a fine.
A contract for deed is an alternative financing agreement in which the seller finances the sale of the property rather than a lender. No Mortgage Registration Tax (MRT) is due on the recording of a contract for deed because a contract for deed is exempted under the MRT law.
(1) The share of future appreciation of the mortgaged property which the lender or mortgagee may receive shall be limited to the proportionate amount produced by dividing the lesser of the acquisition cost or fair market value of the mortgaged property at the time the conventional loan is made into the original ...
(a) A vendee who fails to record a contract for deed, as required by subdivision 1, is subject to a civil penalty, payable under subdivision 5, equal to two percent of the principal amount of the contract debt, unless the vendee has not received a copy of the contract for deed in recordable form, as required under ...